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MA5840 Data Science and Strategic Decision Making for Business

Question

Answered

Question:

Overview

This assessment asks you to demonstrate your ability to plan and design a balance scorecard to help executives make strategic decisions based on the relevant information.

The purpose of the assignment is to enable you to:

  • undertake independent research
  • apply topics from the unit
  • communicate the findings of a formal piece of work and meet a deadline and
  • enhance written communication skills

Background

Balance Scorecard are used in organisations to measure strategic decision outcomes and give a view over performance from both financial and non-financial measures. They provide data and strategy linkages which are becoming increasingly common in the workplace and data science plays a critical role in maintain this linkage through instruments like balance scorecards.

Assessment Task

Write an engagement plan and draft a design for a balanced scorecard in an organisation that includes both financial and non-financial measures based on its vision and mission. It should capture the critical value creation activities of skilled motivated organizational participants. While retaining an interest in short term financial performance it should reflect the superior long-term competitive performance of the organisation. It should be easy to read and signal to all employees the critical objectives that must be accomplished if an organisation’s strategy is to succeed. Each metric needs to link back to a strategic question, requires a clear unambiguous definition and must be SMART (Week 4, Topic 4, Principle 4). The plan should include the organisation engagement to adopt the balance scorecard (e.g. the workshops, planned feedback and executive engagement over a planned timeframe).

MA5840 Data Science and Strategic Decision Making for Business

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